Decker Retirement Planning Inc. Invests $4.82 Million in Fortinet, Inc. (NASDAQ:FTNT)

Decker Retirement Planning Inc. acquired a new stake in shares of Fortinet, Inc. (NASDAQ:FTNT) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 50,980 shares of the software maker’s stock, valued at approximately $4,817,000. Fortinet makes up approximately 2.8% of Decker Retirement Planning Inc.’s investment portfolio, making the stock its 10th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Fifth Third Wealth Advisors LLC boosted its holdings in shares of Fortinet by 1.6% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,833 shares of the software maker’s stock valued at $646,000 after buying an additional 107 shares in the last quarter. Versant Capital Management Inc lifted its position in Fortinet by 13.1% during the fourth quarter. Versant Capital Management Inc now owns 1,106 shares of the software maker’s stock valued at $104,000 after acquiring an additional 128 shares during the last quarter. Diversified Trust Co boosted its stake in Fortinet by 0.6% in the fourth quarter. Diversified Trust Co now owns 23,852 shares of the software maker’s stock valued at $2,254,000 after acquiring an additional 135 shares in the last quarter. Eagle Capital Management LLC grew its holdings in Fortinet by 0.6% in the third quarter. Eagle Capital Management LLC now owns 25,772 shares of the software maker’s stock worth $1,999,000 after purchasing an additional 141 shares during the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in shares of Fortinet by 3.9% during the third quarter. OneDigital Investment Advisors LLC now owns 3,782 shares of the software maker’s stock worth $293,000 after purchasing an additional 141 shares in the last quarter. Hedge funds and other institutional investors own 83.71% of the company’s stock.

Insider Activity

In related news, Director William H. Neukom bought 355 shares of the business’s stock in a transaction dated Friday, December 6th. The stock was acquired at an average price of $98.50 per share, with a total value of $34,967.50. Following the completion of the purchase, the director now directly owns 150,245 shares of the company’s stock, valued at approximately $14,799,132.50. This trade represents a 0.24 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Keith Jensen sold 4,250 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $90.83, for a total transaction of $386,027.50. Following the completion of the transaction, the chief financial officer now directly owns 4,689 shares in the company, valued at $425,901.87. This represents a 47.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 67,860 shares of company stock worth $6,469,056 in the last quarter. Corporate insiders own 18.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group boosted their target price on Fortinet from $70.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Raymond James restated a “market perform” rating on shares of Fortinet in a research note on Tuesday. Wedbush increased their price objective on shares of Fortinet from $90.00 to $105.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group lifted their target price on shares of Fortinet from $100.00 to $114.00 and gave the stock a “buy” rating in a research note on Thursday, January 2nd. Finally, Royal Bank of Canada upped their price target on shares of Fortinet from $82.00 to $97.00 and gave the company a “sector perform” rating in a research note on Tuesday, November 19th. One analyst has rated the stock with a sell rating, nineteen have assigned a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $94.35.

Fortinet Stock Performance

Shares of FTNT stock opened at $94.05 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.25 and a debt-to-equity ratio of 1.09. Fortinet, Inc. has a 12-month low of $54.57 and a 12-month high of $101.00. The business’s 50 day moving average is $95.63 and its two-hundred day moving average is $80.10. The company has a market capitalization of $72.08 billion, a P/E ratio of 47.50, a P/E/G ratio of 2.51 and a beta of 1.00.

Fortinet Profile

Fortinet, Inc provides cybersecurity and convergence of networking and security solutions worldwide. It offers secure networking solutions focus on the convergence of networking and security; network firewall solutions that consist of FortiGate data centers, hyperscale, and distributed firewalls, as well as encrypted applications; wireless LAN solutions; and secure connectivity solutions, including FortiSwitch secure ethernet switches, FortiAP wireless local area network access points, FortiExtender 5G connectivity gateways, and other products.